Ozan Kaya - 23 Nov 2022 Form 4 Insider Report for CarLotz, Inc.

Role
President
Signature
/s/ Ozan Kaya
Issuer symbol
N/A
Transactions as of
23 Nov 2022
Net transactions value
-$23,018
Form type
4
Filing time
28 Nov 2022, 20:00:47 UTC
Previous filing
18 May 2022
Next filing
12 Dec 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LOTZ Class A Common Stock Sale $23,018 -129,969 -12% $0.1771 970,031 23 Nov 2022 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding LOTZ Restricted Stock Units 1,100,000 23 Nov 2022 Class A Common Stock 1,100,000 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The sale reported in the Form 4 was effected pursuant to a Rule 10b5-1 instruction solely with the intent to cover withholding taxes in connection with the settlement of restricted stock.
F2 The reported transaction involved the sale of 129,969 shares of restricted stock upon the accelerated vesting of 275,000 shares of restricted stock to cover withholding taxes in connection with the settlement of restricted stock. The total reported in Column 5 includes 970,031 shares of restricted stock that resulted from the amendment of 1,100,000 restricted stock units previously reported on Table II of Form 4 by the Reporting Person. As such, there are no new or incremental awards being made the Reporting Person.
F3 Each restricted stock unit is convertible into a share of Class A common stock on a 1-for-1 basis.
F4 These restricted stock units will vest if the following provisions are met: (i) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $4.00; (ii) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $8.00; and (iii) one-third of the shares will vest on the first day the Issuer's stock achieves a 20-trading day volume-weighted average price of $12.00, subject to the Reporting Person's continuous service with the Issuer through the relevant vesting dates.